The Bell: authorities estimated 1 trillion RUB in taxes from the crypto market in Russia
The publication got acquainted with an analytical note compiled for the Cabinet of Ministers
07.02.2022 - 11:40
What’s new? The Bell publication got acquainted with an analytical note compiled for the government that estimates the Russian crypto market at $214 billion (16,4 trillion Russian rubles (RUB) and the volume of taxes from it at 1 trillion RUB.
What does the note say? The unnamed authors of the document cite in it various estimates of the crypto market.
“Citing data from the Coinmarketcap platform <...> the note’s authors write that the average capitalization of the global cryptocurrency market last year was $1,87 trillion, while Russia’s share of this market could have been at least 12%, which is about $214 billion or 16,4 trillion RUB,” The Bell notes.
How did the Cabinet of Ministers react to the note? The government office questioned such figures. The Bell cites a commentary on the note, prepared by the analytical center under the government. In it, the share of Russians on the cryptocurrency market was estimated at a maximum of 13,3 trillion RUB.
What had happened before? The Kremlin estimated the Russian cryptocurrency market at $214 billion, the Bloomberg agency wrote last week, citing its own sources. The figure allegedly came from an analysis of the IP addresses of the largest crypto exchange users and other information.
The publication noted that the valuation of capital may be underestimated since most traders hide their activities.
How the largest cryptocurrency exchange’s initiatives help it maintain its leadership
Nov 19, 2022
What fan coins are needed for and what events contribute to their growth
Nov 16, 2022
Why Binance set the trend to publish transparent data on available funds
Nov 14, 2022
The journalists got acquainted with the documents revealing the details of the financial condition of the exchange
Nov 13, 2022
Desperate traders with stuck assets resort to semi-legal schemes to save deposits
Nov 11, 2022
Experts predict when to expect new peaks of the crypto market by analyzing its previous cycles
Nov 10, 2022